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Joanna Plucinska

Polish government touts deficit cut ahead of election

Aug 27 2019

WARSAW Poland's government approved a plan on Tuesday to eliminate its budget deficit for the first time since 1990, Prime Minister Mateusz Morawiecki said, a move that could help bolster public support for its ambitious social spending plans ahead of a national election on October 13.

Over two dozen rescuers try to save trapped cavers in Poland

Aug 20 2019

WARSAW More than two dozen rescue workers are battling to save two cavers trapped in a cavern in Poland's Tatra mountains, the mountain rescue service said on Sunday, after a narrow tunnel flooded with water, blocking their exit. | Video

Polish opposition unites in bid to wrest Senate from ruling nationalists

Aug 19 2019

WARSAW Polish opposition parties have joined forces to try to win a majority in the upper house of parliament, the Senate, in parliamentary elections on Oct. 13, as they struggle to oust the ruling nationalist Law and Justice party (PiS) from power.

A WW2 battle reverberates in Poland's national election campaign

Aug 19 2019

GDANSK, Poland A monument to a battle fought in the opening days of World War Two has become a new frontline in the fight between Poland's ruling nationalists and the liberal opposition in the countdown to a parliamentary election on Oct. 13.

Poland warns EU countries against rapprochement with Russia

Aug 08 2019

WARSAW Poland wants to make sure a new European Commission stays tough on Russia and is concerned that some European Union countries are growing increasingly friendly toward its eastern neighbor, even as the Kremlin cracks down on dissent.

German Foreign Minister rules out joining U.S.-led Hormuz mission

Jul 31 2019

WARSAW/BERLIN Germany will not participate in a U.S.-led naval mission in the Strait of Hormuz as it wants to ease tensions with Iran, Foreign Minister Heiko Maas said on Wednesday.

Polish 'I am LGBT' campaign attracts tens of thousands of Twitter supporters

Jul 31 2019

WARSAW Tens of thousands of Twitter users have expressed support for gay rights in Poland as part of the #jestemLGBT campaign, aimed at fighting discrimination and homophobia in a country where the ruling party is strongly socially conservative.

CEE MARKETS-Currencies hold around one-week lows after ECB meeting

Jul 26 2019

By Joanna Plucinska WARSAW, July 26 Central European currencies remained around one-week lows on Friday after the previous day's more positive than expected assessment of the euro zone economy from European Central Bank Governor Mario Draghi. The euro, the key reference currency in central Europe, hit a two-month low on Thursday after the ECB opened the door to further stimulus but then rallied when Draghi told a news conference the risk of recession remained low. The Czech crown eased by 0.01% and the Polish zloty by 0.08% while Hungary's forint was down 0.14% at 0848 GMT. However, analysts expect Eastern European currencies to firm again before next week's U.S. Federal Reserve meeting, where the central bank is expected to cut interest rates. "From next week the zloty may strengthen closer to the Fed meeting ... probably after this (ECB) disappointment we will be a bit more careful," said Piotr Poplawski, senior economist at ING in Poland, referring to expectations that the chances of monetary easing might be smaller after Draghi's comment. Central banks in the region have adopted a wait-and-see stance despite higher economic growth and inflation, with loose global monetary policy having eased pressure on them to act. "The decision of the ECB on Thursday, and the expected rate cut by the Fed next week, helps the Hungarian central bank to maintain the current ultra-loose monetary conditions that also keep rates low on household loans," David Nemeth, an analyst at KH Bank in Budapest, said in a note. Czech central bank Vice-Governor Tomas Nidetzky told Reuters this week that rate stability was most likely and loosening by the ECB or Fed would not automatically mean the Czech bank would have to follow suit. Poland's 10-year yield hovered around record-low levels at 1.973% on Thursday. Polish yields have been falling since the beginning of the year after a drop in global bond yields as market expectations for rate cuts by leading central banks increased against a backdrop of weak economic data and concern over a global slowdown. CEE SNAPSHO AT MARKETS T 1048 CET CURRENC IES Latest Previou Daily Change s bid close change in 2019 EURCZK Czech <EURCZK 25.5440 25.5410 -0.01% +0.64% = crown => EURHUF Hungary <EURHUF 326.570 326.125 -0.14% -1.68% = forint => 0 0 EURPLN Polish <EURPLN 4.2625 4.2590 -0.08% +0.64% = zloty => EURRON Romanian <EURRON 4.7267 4.7245 -0.05% -1.54% = leu => EURHRK Croatian <EURHRK 7.3840 7.3850 +0.01% +0.35% = kuna => EURRSD Serbian <EURRSD 117.620 117.730 +0.09% +0.58% = dinar => 0 0 Note: calculated from 1800 daily CET change Latest Previou Daily Change s close change in 2019 .PX Prague 1073.05 1074.02 -0.09% +8.77% 00 .BUX Budapest 41101.9 41353.6 -0.61% +5.02% 9 2 .WIG20 Warsaw <.WIG20 2311.35 2310.31 +0.05% +1.53% > .BETI Buchares 8952.44 8968.90 -0.18% +21.25 t % .SBITO Ljubljan <.SBITO 869.55 869.06 +0.06% +8.12% P a P> .CRBEX Zagreb <.CRBEX 1926.79 1918.62 +0.43% +10.18 > % .BELEX Belgrade <.BELEX 736.85 738.72 -0.25% -3.26% 15 15> .SOFIX Sofia <.SOFIX 582.90 580.60 +0.40% -1.94% > BONDS Yield Yield Spread Daily (bid) change vs Bund change in Czech spread Republic CZ2YT= 2-year <CZ2YT= 1.3470 0.0780 +211bp +8bps RR RR> s CZ5YT= 5-year <CZ5YT= 1.1990 0.0620 +190bp +6bps RR RR> s CZ10YT <CZ10YT 1.3590 0.0220 +172bp +3bps =RR 10-year =RR> s Poland PL2YT= 2-year <PL2YT= 1.5300 -0.0290 +229bp -3bps RR RR> s PL5YT= 5-year <PL5YT= 1.7830 0.0470 +249bp +5bps RR RR> s PL10YT <PL10YT 2.1240 0.0540 +249bp +6bps =RR 10-year =RR> s FORWARD RATE AGREEME NT 3x6 6x9 9x12 3M interba nk Czech <CZKFRA 2.13 2.03 1.95 2.16 Rep ><PRIBO R=> Hungary <HUFFRA 0.31 0.37 0.40 0.26 ><BUBOR => Poland <PLNFRA 1.74 1.73 1.72 1.72 ><WIBOR => Note: are for ask FRA prices quotes ******************************************** ****************** (Reporting by Joanna Plucinska, Alicja Ptak, Jason Hovet and Krisztina Than Editing by David Goodman)

Poland's fragmented opposition coalesces into left, center blocs

Jul 18 2019

WARSAW Poland's main opposition parties have formed two coalition blocs to vie for left-leaning and centrist votes ahead of a national election later this year, in the hope of denting the popularity of the ruling nationalist Law and Justice (PiS) party.

Poland's ruling nationalists seek to broaden appeal as election nears

Jul 18 2019

KATOWICE, Poland Poland's ruling nationalists want to appeal to more educated urban voters beyond their conservative rural base ahead of a parliamentary election later this year when they hope to gain a large enough majority to change the constitution.

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